This Billionaire Investor Has Owned Palantir Since Its IPO. He Just Dumped Nearly His Entire Stake.

Palantir Technologies (NYSE: PLTR) has been one of the top stocks of the artificial intelligence (AI) era. Shares of the cloud software company best known for its data analytics and AI platforms are trading up 275% year to date, the best-performing stock on the S&P 500 this year after Vistra, an unregulated utility that's seen its stock soar as investors anticipate an AI-driven spike in demand for power.Palantir stock's growth occurred after the company reported accelerating revenue growth and expanding margin in every quarter this year. That growth can be attributed to its AI platform catching on with commercial customers and to the continued expansion of its government contracts, which is where Palantir first got its start.Not every investor is sold on its continued growth, partly because the stock's surge this year has given it a sky-high valuation. Palantir now trades at a price-to-sales ratio (P/S) of 58.5, which is exponentially higher than the 2.9 P/S ratio of the average stock in the S&P 500. Palantir is profitable on a generally accepted accounting principles (GAAP) basis, and now trades at a P/E of 183, based on adjusted earnings. The average P/E ratio of the S&P 500 is 28.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool